Ireland’s Mairead McGuinness picked to be next EU finance boss
Ireland’s Mairead McGuinness is set to take over as the EU’s financial services commissioner as part of a mini reshuffle prompted by her fellow countryman Phil Hogan’s resignation.
Former Latvian Prime Minister Valdis Dombrovskis has been chosen to fill Hogan’s prestigious position as EU trade chief. He was previously in charge of financial services and the economy.
European Commission president Ursula von der Leyen recommended McGuinness today. She said McGuinness, a centre-right MEP, had “significant experience” in EU affairs.
McGuinness will be in charge of financial services, financial stability and capital markets union, Von der Leyen said.
Dombrovskis will relinquish most of his very broad economic remit. But he will remain the Commission’s representative on the Eurogroup of European finance ministers.
“Mrs McGuinness has significant political experience on EU issues, having been an MEP since 2004 and currently holding the post of first vice-president of the European Parliament,” Von der Leyen said.
“This experience is crucial in carrying forward the EU’s financial sector policy agenda and ensuring it supports and strengthens the Commission’s key priorities, notably the twin green and digital transition.”
Ireland’s strong position continues
The reshuffle was prompted by the resignation of Ireland’s European commissioner Phil Hogan. He stepped down after facing accusations that he broke Ireland’s coronavirus restrictions by attending a parliamentary golfing dinner. The scandal was dubbed “golfgate”.
The Commission is the EU’s executive body. It proposes legislation and has important powers in areas like trade and competition.
Each EU member state has a person on the commission, known as a commissioner. When Hogan stepped down, a new Irish commissioner had to be chosen.
Both McGuinness and Dombrovskis are part of the centre-right European People’s Party. The moves therefore keep two key roles in Von der Leyen’s group of parties.
The selection of McGuinness would sustain Ireland’s strong position in the EU’s upper ranks. Her appointment as Ireland’s European commissioner will have to be confirmed by EU governments and the European parliament.
Dombrovskis is a seasoned and respected official, having been in charge of the finance and economy portfolio since 2016. As trade chief, he would oversee the EU’s trading relationship with Britain in the future.